New Delhi, Nov. 19 -- The digital payments and financial technology company, Paytm's business showed strong improvement in the September quarter (2Q26), with better margins, higher loan distribution, and tight cost control helping the company outperform market expectations, according to a recent report by Bernstein.

The report continues to rate Paytm as Outperform and raised its target price to Rs 1,600.

The brokerage highlighted that Paytm reported EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of Rs 1.4 billion, which was around 20 per cent higher than consensus estimates.

The report stated "We model an Accelerated Improvement in margins, driven by assumptions of higher payment margins and modest increases i...